8/21 Analysis: How to Trade the News (if you must)
The safest way to trade the news is to take the day off as we’ve mentioned before. However, I’ll show you how to trade around the news.
If you are going to trade, wait until after the initial impact of the news announcement has settled down which we have a great example of today during the London session.
25 minutes after the news hit, here is what the indicator looked like:
These conditions warrant a market order immediately when you see it on the indicator.
- EUR/AUD SELL
The entry above is where you could have got in when you noticed the momentum on the indicator.
From that point, it’s a quick 20 pip profit.
You can watch the entire video analysis below:
You can see that our Currency Strength Indicator is an effective tool for picking out the highest probability, lowest risk trade set ups while avoiding market conditions that aren’t favorable. If you keep using this tool every day along with our daily Forex analysis, you will increase your win rate and be on your way to becoming a profitable trader long term.
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